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December 26, 2005
Catastrophic Events of This Years Hurricanes Have Impacted Intertape's Business in Unforseen Ways
The rising energy costs and difficulty in obtaining raw materials have forced Intertape to take steps that were not anticipated a year ago. Shortages of product and product changes have seriously impacted business.
(PRWEB) December 26, 2005 -- Jim Derrick, National Sales Manager, commercial products at Intertape Polymer Group (IPG), on 11/22/05 stated that "We have all looked looked in distress at the changing landscape of American Business in the last 12 months. The catastrophic events of this year's hurricanes have impacted Intertape's business in dramatic and unforseen ways. The rise in energy costs along with the difficulty in obtaining raw materials at a favorable price is forcing us to take steps that we did not anticipate one year ago."
He further stated that "because of our need to rationalize the Commercial Business unit of Intertape, we are forced to make some difficult decisions. We have decided to reduce the number of Rep Groups that we are associated with."
Intertape has additionally decided to step away from their presence in the Plumbing Business. The recent loss of Brian Martin Vice President of Sales and long time employee was another serious blow.
Intertape manufacturers a line of tapes, shrink wrap, and related packaging products. The company, which sells directly to end users, as well as through distributors, produces a variety of polyolefin plastic and paper packaging products and packaging systems, including pressure-sensitive and water-activated tape, carton sealing machines, stretch and shrink film, and industrial electrical tape. The company's customers include distributors, retail stores, and large companies in the aeronautical, automotive, food, paper, and other industries. The US accounts for about 80% of the company's sales. In 2004 intertape did in excess of $690 million. They employ aproximately 2600.
Posted by Industrial-Manufacturing at December 26, 2005 04:13 AM